Non-brokered deal sold units, half-share warrants at C$0.55 per unit
By Devika Patel
Knoxville, Tenn., July 18 - Lago Dourado Minerals Ltd. said it settled a C$5.07 million non-brokered private placement of units. The deal priced for C$6 million on June 17 and was amended on June 28.
The company sold 9,216,544 units of one common share and one half-share warrant at C$0.55 per unit. The units originally were priced at C$0.60 each.
Each whole warrant is exercisable at C$0.70, decreased from the original C$0.75, for 18 months. The strike price reflects a 27.27% premium to C$0.55, the June 16 closing share price.
Lago Dourado is a Toronto-based gold explorer.
| Issuer: | Lago Dourado Minerals Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5,069,100
|
| Units: | 9,216,544
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.70
|
| Agent: | Non-brokered
|
| Pricing date: | June 17
|
| Amended: | June 28
|
| Settlement date: | July 18
|
| Stock symbol: | TSX Venture: LDM
|
| Stock price: | C$0.60 at close June 17
|
| Market capitalization: | C$34.76 million
|
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